Condo Package / 20 Units
| Asking Price: | $2,700,000 |
| Gross Revenue: | $276,000 |
This is a rear opportunity to own a 20 Unit Condo Package.
*All 20 units are located in the same condo complex.
The complex has total of 52 units and located in the prime area of Southfield, Michigan.
This highly desirable property is located near major freeways, schools, shopping district and parks. Units consist of:
(10) 1-bedroom units leased at $1,050.00 per month
(10) 2-bedroom units leased at $1,250.00 per month
There are 17 units on Section 8 (federal funded program) and 3 units are private pay.
HOA fees are:
$145.00 for 1-bedroom per month
$172.00 for 2-bedroom per month.
These are all 1-year leases with 3-5% annual increases.
*This condo package includes a management contract for the complex generating substantial additional income for the new owner. These rare investment packages don’t come up very easily and will sell fast. A must see/must have investment portfolio that will not last long!
*Must show proof of funds minimum of $400,000 before receiving profile sheet.
